Storage unit auctions are an amazing new way to make money. If you are looking for an easy way to supplement your income you may have just found it in these auctions. You will need a small amount of start-up cash to bid but there is a great opportunity here to not only get that money back but also to make a great profit.
If you are not familiar with storage unit auctions you might have all kinds of questions about what the opportunity is and how you can make money. First, find auctions either online or in newspaper classified ads. Depending on the size of your city you may find auctions every month and even more.
Normally if you bid and win the auction you will have to pay in cash so be sure to bring enough as most storage companies will not take your credit card or a check. Be sure you keep your cash safe.
In most cases if you arrive early and have a quick look inside the storage unit from the door. Whenever possible you need to see the things you are bidding on so you will have an idea whether you can make a profit or not. Occasionally you may be asked to bid on a closed unit and you will need to use judgement on whether or not you want to participate if this is the case.
It is important to be able to judge the value of the items you are bidding on, after all you want to make a profit so try to find auctions where the items can be seen. Sometimes there will be sealed boxes, in this case look for markings on them, also look for appliances, furniture and antiques as these items will sell well.
As the bidding progresses keep in mind that you want to make money and you must control your business expenses. You want to find units that are filled to capacity with valuable things. You need to be careful not to overbid and in any case, never bid more than you can afford.
Here is another consideration, if you are the winner of the auction you will need to quickly remove the items. You should ask questions and get the time that you have before the auction begins, usually you will have 24 hours, but find out for sure. If possible bring a truck or a van with you and if you cannot carry the items away with you right after the auction, bring a padlock so you can secure them until you get back with transportation.
After you have your items you will want to sell them as quickly as possible, after all, this is where you will make your money back and your profit. You can use a yard sale, Craig’s List, or eBay for quick sales. Yard sales may bring you the speedy resale that you are looking for and the items that don’t move quickly you can list online.
With careful planning and understanding you can do quite well at these auctions. Be prepared to wheel and deal as you bid your way to auction fortunes.